Shinhan Life Launches "Shinhan Whole Life Insurance Perfect ONE"

Maintains Basic Coverage of Whole Life Insurance
Convertible to Lifetime Fund Type... Usable as Retirement Funds
Covers Treatment and Surgery with Child Protection Rider

Shinhan Life announced on the 10th that it has launched the "Shinhan (Easy Subscription) Whole Life Insurance Perfect ONE."

This product (non-participating, partial surrender value payment type) is characterized by maintaining the basic coverage of whole life insurance while allowing the contract to be utilized according to the customer's life circumstances. Notably, after the premium payment is completed and 15 years have passed since the contract date, the policy can be converted to a "lifetime fund type," enabling it to be used as retirement funds.

After converting to the lifetime fund type, the policyholder can receive 10% of the insured amount annually as a lifetime fund on the policy anniversary for 10 years, provided they are alive. The death benefit is reduced only by the amount received, allowing customers to easily check the remaining coverage. This improves upon previous advance payment options, which made it difficult for customers to understand exactly how much the death benefit would be reduced depending on the amount received.

The coverage competitiveness has also been further strengthened. After five years from enrollment, the death benefit increases by 10% of the insured amount each year for 10 years. Through the long-term maintenance bonus, additional coverage increases are possible at the 10, 15, and 25-year marks.

In addition, depending on customer needs, the contract can be converted to options such as △accumulation type, △whole life conversion rider, or △long-term care benefit rider, providing broad utility for retirement preparation, long-term care, and additional coverage. Furthermore, if customers add the child protection rider and child hospitalization rider, coverage is provided for a child's cancer diagnosis, treatment, surgery, and even hospitalization.

Both the main contract and riders are equipped with a premium waiver feature, allowing coverage to continue without premium payment obligations if diagnosed definitively with cancer, cerebral hemorrhage, or acute myocardial infarction, or in the event of a disability of at least 50%. The eligible enrollment age is from 15 to 70 years old for the standard underwriting type, and from 30 to 70 years old for the simplified underwriting type. The premium payment period is 15 years.

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